Post Properties Inc. (PPS) Trading Down 1.2%
Post Properties Inc. (NYSE:PPS) shares dropped 1.2% on Thursday . The stock traded as low as $65.88 and last traded at $66.06, with a volume of 851,027 shares traded. The stock had previously closed at $66.88.
PPS has been the topic of several analyst reports. Zacks Investment Research raised shares of Post Properties from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Thursday, June 16th. Cantor Fitzgerald reaffirmed a “hold” rating on shares of Post Properties in a research report on Saturday, June 4th. Deutsche Bank AG lowered their price objective on shares of Post Properties from $61.00 to $60.00 and set a “hold” rating on the stock in a research report on Friday, May 13th. Citigroup Inc. boosted their price objective on shares of Post Properties from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, August 5th. Finally, Zelman & Associates downgraded shares of Post Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, June 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. Post Properties has an average rating of “Hold” and a consensus price target of $63.40.
The company’s 50-day moving average is $63.01 and its 200-day moving average is $59.51. The company has a market capitalization of $3.56 billion and a PE ratio of 45.33.
Post Properties (NYSE:PPS) last issued its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.03. The business had revenue of $99.70 million for the quarter, compared to the consensus estimate of $99.30 million. During the same period in the prior year, the business earned $0.74 earnings per share. Post Properties’s revenue was up 4.5% compared to the same quarter last year. On average, equities analysts predict that Post Properties Inc. will post $3.22 earnings per share for the current year.
Other institutional investors have modified their holdings of the company. American International Group Inc. boosted its position in shares of Post Properties by 1,120.4% in the fourth quarter. American International Group Inc. now owns 104,677 shares of the real estate investment trust’s stock valued at $6,193,000 after buying an additional 96,100 shares in the last quarter. Matarin Capital Management LLC acquired a new position in shares of Post Properties during the fourth quarter valued at $4,143,000. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Post Properties by 13.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 338,155 shares of the real estate investment trust’s stock valued at $20,006,000 after buying an additional 39,110 shares in the last quarter.
Post Properties, Inc is a self-administrated and self-managed equity real estate investment trust (REIT). The Company’s segments include Fully stabilized (same store) communities, which includes apartment communities that have been stabilized for both the current and prior year; Newly stabilized communities, which includes communities that reached stabilized occupancy in the prior year; Lease-up communities, which includes communities that are under development, rehabilitation and in lease-up but were not stabilized by the beginning of the current year, including communities that stabilized during the current year; Acquired communities, which include communities acquired in the current or prior year, and Held for sale and sold communities, which include apartment and mixed-use communities classified as held for sale or sold.
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